Citi Maintains Hold on Discovery Communications (DISCA)

Citi is out with its report today on Discovery Communications (NASDAQ: DISCA), maintaining Hold.

In a note to clients, Citi writes, "Earlier this year, Discovery launched the Oprah Winfrey Network and shuttered Discovery Health. Although OWN is likely a smart move by Discovery we think the likely upside is not material enough to upgrade the shares. We rate Discovery a Hold, with a $45 price target."

Shares of DISCA closed Monday at $41.47, down 1.12% from Friday's close.